DATA ANALYTICS AND RESEARCH FOR THE GROWTH TEAM

By

Anjali SL

Under the Guidance of

Ashik Rahman (Vice President Chillr)

SCHOOL of INSPIRED LEADERSHIP

GURGAON

Plot 76 Sector 44, Gurgaon 122003, India

T:0124-
4302222
Page 1 of
18
CERTIFICATE

This is to certify that Mr./Ms. ______________ has successfully completed the project

titled “________________”, in _________ (name of the organization) ___. It is an

independent research work done under my supervision during _________________. It is

being submitted to the School of Inspired Leadership in partial fulfillment for the award

of the program completion Certificate.

Signature of Project Guide
Designation
Company Stamp
Signature of Faculty Guide
Designation
Institute Stamp
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 2 of
18
ACKNOWLEDGEMENT

I express my deep sense of gratitude to Mr. Atindra Bhattacharya, my internal mentor,

for his support and encouragement throughout the duration of internship.

I sincerely thank Mrs.Bianka Ray, my faculty, for his guidance in the completion of the
project.

The completion of this undertaking would not have been possible without Ashik
Rahman, Vice President, Chillr. I am grateful for his valuable guidance and keen interest
at various stages of my internship.

Above all, I would like to thank Almighty for his blessings.

Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 3 of
18
Contents

1. Brief Company Profile..............................................................................................................................

5

2. Executive Summary / Abstract................................................................................................................

7

3. Introduction...................................................................................................................................................
8

4. Research.........................................................................................................................................................
8

5.0 Key Insights from the Research...........................................................................................................

9

5.1 Analysis of Data through Splunk.......................................................................................................

10

6. Suggestions.................................................................................................................................................
11

7. Limitation (Survey Result)....................................................................................................................

13

8. Conclusion..................................................................................................................................................
14

9. Bibliography...............................................................................................................................................
15
10.Appendix....................................................................................................................................................
16

Plot 76 Sector 44, Gurgaon 122003, India

T:0124-
4302222
Page 4 of
18
1. Brief Company Profile

Chillr is a multi-bank mobile banking app that lets users send and receive money
to/from anyone in their phone book. Chillr differentiates from online wallets as all fund
transactions are between bank accounts. It was listed in the “App Store Best of 2015” on
the IOS platform in India. Chillr is the only Financial/Banking app to be listed in this
category.

Services Offered
Chillr is the fastest and easiest way to send money between bank accounts and works
even on bank holidays. It is linked directly to your bank account to offer you following
services:

Pay - Make direct payments to other bank account

Collect - Request for money or split bills.

Utilities - Recharge your mobile phone, data card, DTH & BookMyShowWallet with
Chillr.
Instant Fund Transfer - Bank account is credited with the customer’s payment
instantly.

Setup employees to _accept payments - Employees can request payments, giving

them the ability to accept Chillr at multiple points.

Plot 76 Sector 44, Gurgaon 122003, India

T:0124-
4302222
Page 5 of
18
Lighting Fast Transaction- Transactions are processed real-time 24x7. No handling
change and keeping track of cash.

QR Based Payments- Secure and fool proof mechanism ensures that you know who
makes the payment.

Security- SSL Certificates, 256-bit encryption and other enterprise grade security
measures taken to protect your data.

Get popular in your area- Chillr users in the locality get to see nearby store name and
offers in the "Near Me" panel, leading to more business for merchants.

No Setup Fee. No Minimum guarantee- There are NO setup fees and NO monthly
minimum guarantee.

Chillr customer Base- Hundreds of thousands of users who have downloaded the Chillr
app are the potential customers for merchants.

12x7 Merchant Support- 9am to 9pm call centre and email support. 7 days a week, to
take care of any eventuality.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 6 of
18
2. Executive Summary / Abstract

The internship project was mainly dealing with data analytics. Chillr uses the analytics
tool Splunk where in the required data is extracted analyzed and then strategic and
marketing plans are drafted in consultation with data analysts.

Data team uses Splunk to know those customers who have registered on to their mobile
application every previous week but not yet done more than one transaction post-
registration. Those customers are sent reminder notifications; if the number of such
customers exceeds a threshold, then customized offers are given to them as well.
Dashboards were created and monitored real-time as to whether transactions are getting
failed, and if they did so, the issue was found out regarding why it was failing and was
resolved by the respective team.

Regarding the marketing domain, hourly campaign was launched in order to clock more
transactions apart from promoting the application.
The total bank statement was consolidated for the period June-August for HDFC bank
from Splunk database, which was shared with the finance team that was used for bank
transaction settlement for the quarter end.
Fund transfer list was also extracted from CyberPlat (gateway), which gave those
transactions that were successful at CyberPlat’s end. This data was used to know those
transactions, which need to be refunded within the time frame so that disputes could be
settled before deadline.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 7 of
18
 3. Introduction

The growth strategies of the company were to be looked in to with the help of data
analytics. The main objective was to find out if promotional strategies are working well
for the company and to give recommendations in the form of marketing campaigns to
increase retention.

Dependent variables
Customer retention and marketing campaigns

Independent variable
Mobile recharges, fund transfers and registrations

4. Research

The global payments landscape is evolving at a rapid pace. The last twelve to eighteen
months have witnessed heightened activity with four major shifts being observed in the
global landscape.

• The ongoing digital and technology revolution, led by the ever-increasing

penetration of smartphones and Internet on mobile, has revolutionized digital payments.
• The payments space has witnessed the entry of several non-banking institutions
offering payment services and solutions.
• Customers are becoming more demanding and expect instantaneous and one-
touch payment solutions.
• There have been several progressive changes in the regulatory framework.

Over the past few years, the payment land-scape in India has mirrored these
developments, with digital payments displaying an exponential growth. Increasing smart
phone penetration, greater access to the Internet, rise in consumption and the rapid
development of payments infrastructure is set to drive the penetration of digital payments
in India.

Plot 76 Sector 44, Gurgaon 122003, India

T:0124-
4302222
Page 8 of
18
5.0 Key Insights from the Research

Despite the recent push on cash-backs and offers, convenience is as important as offers
in driving digital payments adoption. Convenience encompasses not only ‘one click’
payments but also ability to recharge / pay bills anytime anywhere through mobile
phone, convenience of not carrying cash and also no hassle of change.

• Users of digital payment instruments prefer them over other non-cash modes
• Convenience is as important as offers in driving digital adoption
• Prepaid mobile recharge and bill payments remain the USP
• Habit to use cash, complexity and perceived lack of value proposition are key
barriers to adoption
• Security, identity theft and fraud are not big barriers in India as compared to
Europe and USA
• Merchants believe digital payments will grow big, accelerating future sales
• No clear benefits over other methods, complexity are key barriers for merchant
trials
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 9 of
18
5.1 Analysis of Data through Splunk

After analyzing the transaction pattern and comparing it with other partner banks like
HDFC there was a high rate of recharge transaction during the time period 12pm-
1pm.Thisobservations was shared with marketing team and was used to send reminder
notifications for registered user who has not transacted.

One of the biggest challenges that Chillr faced was retaining customers. As an initial
marketing strategy Chillr gave cash back of 50rs for the first transaction. Reminder base
was a campaign launched to customize offers so that customers continue to transact
using Chillr after registration.

My task was to find out the customers who registered but did not transact for a week and
draft reminder messages and offers for these selected users with the marketing team.
For identifying this customer information, data mining was done and had to v-lookup
the database for corresponding months and remove duplicates. If the number of users in
the reminder base were more than 700, exclusive offers were drafted and otherwise
reminder notifications were sent.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 10 of
18
Dashboard

Dashboards were created and real-time data was monitored on an hourly basis to keep a
track of the number of failed transactions so that the issues associated with them could
be resolved as soon as possible.

6. Suggestions

Address true customer need: It is critical for Payment Service Providers to look for a
way to solve payment problems that customers face every day, instead of just offering a
solution looking for a problem.

Convenient, intuitive, easy to use and safe products: It is imperative to build

solutions that are “as easy as cash” to use, enable fast transactions, and yet provide
adequate protection to customers’ money.

Partner, Partner, Partner: Given the tight economic model of payments businesses,
PSPs will need to extensively partner in order to lower customer acquisition costs, over
a broad spectrum of solutions and get access to a large distribution network.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 11 of
18
Reduce entry barriers for customers—charge merchants and not customers:
PSPs need to find the right pricing model to drive adoption, wherein transaction charge
is either levied on merchants (like discounting rate) or when money leaves the digital
ecosystem.

Mine customer data to build additional revenue streams: PSPs can carry out
analytics on large volumes of transaction data to offer the most relevant products /
services / discounts to the right consumer at the right time and drive higher
consumption.

Look beyond payments—broaden financial services to consumption needs: PSPs

have an opportunity to expand their customer relationship by offering a full suite of
financial services, and even other consumption based products, in order to optimally
monetize the relationship.

Exploit next generation technologies to build low cost and scalable solutions:
Technology will be critical not only to deliver solutions that are convenient, simple and
secure, but also to ensure that the costs of customer acquisition, on-boarding and
transactions are minimal.

Scale, Scale, And Scale: Attaining scale is critical to make the business model of
payments business viable. PSPs that make bold moves and build scale have a good
opportunity to build a profitable and valuable business.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 12 of
18
 7. Limitation (Survey Result)

Key limitations for Chillr to get digital acceptance

• Need to remember multiple password and username

• Merchant acceptance
• Possibility of error
• Not enough Amount in account
• Likelihood of identity theft
• Hidden charges
• Impact of UPI and losing the first mover advantage
Plot 76 Sector 44, Gurgaon 122003, India
T: 0124-4302222
Page 13 of 18
 8. Conclusion

After finding the pattern of transactions and sending reminder notification, conversion
rate of one-time customers to regular users increased from 3% to 15%. The marketing
campaign launched on August 31,2016 helped Chillr to get a record 40,000 transactions a
day. The questionnaire and survey conducted helped the company to perform detailed
analysis on the strengths ,weaknesses and address the customer needs better. Beyond
2020, the rise of connected devices will fuel strong growth in in-app purchases. Mobile
applications will become increasingly sophisticated and consumers will be transacting via
a new range of devices (such as smart watches and connected cars). These dynamics,
moreover, will spur new value propositions that, in turn, will alter the competitive
landscape.

Not only does digital media deepen levels of customer engagement, it also opens up
avenues for the monetization of new services. In my research, I tested the level of interest
in a number of theoretical digital capabilities and found that there is a real opportunity to
enhance customer engagement for banks by investing in digital capabilities that drive
additional value and better service for customers.
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 14 of
18
 9. Bibliography

http://www.thehindu.com/business/Economy/what-is-unified-
payment-interface/article9037034.ece

https://yourstory.com/2015/10/chillr-funding/

http://economictimes.indiatimes.com/industry/banking/finance/banking/bharat-
bank-announces-association-with-chillr-to-make-payments-easier-for-its-
users/articleshow/51589927.cms

https://www.chillr.in

http://www.hdfcbank.com/htdocs/common/MobileBanking/chillr-app/index.htm

http://www.bloombergquint.com/business/2016/09/24/can-vijay-shekhar-sharma-
disrupt-indian-banking

http://www.moneycontrol.com/news/technology/digital-india-20-the-next-
phasee-governanceindia_7545501.html
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 15 of
18
10. Appendix
Plot 76 Sector 44, Gurgaon 122003, India
T: 0124-4302222
Page 16 of 18
 Survey

1. What were your reasons for choosing Chillr banking service? Please select all that
apply

• Convenience
• To save time
• 24 hour access to accounts
• I live overseas and need access to my accounts

2. How often do you use Chillr?

• Daily
• Once a week
• 2-4 times a week
• Less than once a week

3. Which features do you use regularly? Please select all that apply.
• Pay bills
• Mobile recharges
• Transfer funds between accounts
• Bill payment
• Other services

4.Please rate the following features of Chillr on a scale of 5

• Send Money -
• Recharge-
• Collect-
• Scan and pay-
• Invite-
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 17 of
18
5. Is Chillr easy to use?
• Yes
• No

6. Overall, how satisfied are you with our online banking service?
• Very Satisfied
• Satisfied
• Neutral
• Unsatisfied
• Very Unsatisfied

7.Have you faced any security concern while using chillr?

• Yes
• No

------------------------------------------------------------------------------------------------------
Plot 76 Sector 44, Gurgaon 122003, India
T:0124-
4302222
Page 18 of
18